JV sounds cool
By Cao Qian |
May 25, 2010, Tuesday
|
Print Edition
Print Edition
SHANGHAI Jin Jiang International Hotels (Group) Co signed an agreement yesterday with Mitsui & Co Ltd, a major Japanese general trading company, to form a joint venture to tap the country's growing refrigerated warehousing market.
Under the pact, Mitsui & Co will invest more than 100 million yuan (US$14.66 million), through one of its subsidiaries Mitsui & Co (Asia Pacific), into Shanghai Jinjiang International Cold Logistics Development Co for a 49 percent stake.
Meanwhile, Shanghai Jinjing International Investment, a subsidiary of Jin Jiang Hotels - China's largest hotel operator - will own 51 percent of the 250 million yuan venture.
By partnering Mitsui & Co, Jinjiang Cold Logistics will be able to accelerate its expansion amid robust demand for cold storage facilities in the country and also sharpen its competitive edge globally, according to Jin Jiang executives.
Under the pact, Mitsui & Co will invest more than 100 million yuan (US$14.66 million), through one of its subsidiaries Mitsui & Co (Asia Pacific), into Shanghai Jinjiang International Cold Logistics Development Co for a 49 percent stake.
Meanwhile, Shanghai Jinjing International Investment, a subsidiary of Jin Jiang Hotels - China's largest hotel operator - will own 51 percent of the 250 million yuan venture.
By partnering Mitsui & Co, Jinjiang Cold Logistics will be able to accelerate its expansion amid robust demand for cold storage facilities in the country and also sharpen its competitive edge globally, according to Jin Jiang executives.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
